New Credit Card

khublaikhan

Hi All,

I currently have a Halifax Mastercard which is charging me 17.7% interest on purchases. I want to apply for a 0% card because I want to purchase something for £1000 and pay it off in the year.

Silly question but do I pay off the existing balance on my Halifax Card (£225) and close the account or can I transfer my existing card to another one somehow? I was thinking of applying for the AA long-term 0% card.

Thanks in advance

bigadaj

You can transfer your existing balance and no need to close the current card, use this for everyday spending and pay off in full each month.

You need to check the terms of the cards and offers available, some will offer 0% balance transfers, some for purchase and some for both.

There are a lot of reported problems with the aa financial services products run by bank of Ireland so be careful in your dealings with them and maybe look at an alternative provider.

There's obviously no guarantee you'll get a card and if you do you'll get a good offer so consider this as well.

Dobbibill

Try this checker to see what type of cards you may get accepted for.

https://creditcards.moneysavingexpert.com//purchases

I've opted for the purchases link but you can also do the checker for best 'all rounder' (ie purchases and BT) if you want to transfer your Halifax balance.